Phoenix acts for unicorn Pine Labs on $100m fundraise with CAM, NDA, AZB, KCo

Home-grown payments solution provider Pine Labs, on Monday, announced that it has raised close to $100 million from Lone Pine Capital as part of secondary and primary share sale. This investment round has taken the company’s valuation from $1.6 billion to $2 billion within a year.

— Mint

Phoenix Legal advised Pine Labs led by a team of partnerSaket Shukla, partnerSriram Ramachandran and associateMaryam Naaz Quadri.

Cyril Amarchand Mangaldas advised Lone Pine Cap on the Indian law aspects of the transaction led by partnersKota Chandan and Anshuman Sakle.

Goodwin Proctor (Hong Kong) represented Lone Pine Cap with a team comprising of partnerAbhishek Krishnan, with lawyersAsmita Mishra and Anwesha Halder.

Nishith Desai Associates acted for selling shareholder Madison with a team comprising of lawyersPoonam Sharma and Deepika Yadav.

AZB & Partners represented Sequoia, an existing investor, with a team comprising of partnerDushyant Bagga and partnerSwati Chauhan.

Khaitan & Co represented Temasek, an existing investor, with a team of partnerVineet Shingal, with lawyersTanvi Arora and Rohan Shrivastava.

2020-12-27

Deal value: USD 75 -100 Million

This deal report is based on a firm’s press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

Click here if you are working with a law firm that has not been credited for this deal, and we will update the report promptly.

Click to show comment
at your own risk
(alt+c)

By reading the comments you agree that they are the (often anonymous) personal views and opinions of readers, which may be biased and unreliable, and for which Legally India therefore has no liability. If you believe a comment is inappropriate, please click ‘Report to LI’ below the comment and we will review it as soon as practicable.